Alloga, a specialist pharmaceutical logistics provider and part of US firm Cencora, has signed a lease for 230,000 sq ft of logistics space at Panattoni Park J28 Central M1 in South Normanton, Derbyshire.
Panattoni Park J28 Central M1
The park was developed by Europa, a pioneer in pan-European real estate investment, in joint venture with Panattoni and comprises two units totalling 575,000 sq ft. It is now fully let.
The second 345,000 sq ft unit is fully occupied by Super Smart Service, a Chinese third-party logistics operator.
Panattoni Park J28 Central M1 is an established distribution hub in the East Midlands, benefitting from direct access to the M1 motorway and A38.
James Keast, director at Europa, said: “This new letting reinforces our conviction in this asset class and highlights how high-quality, well-located logistics assets continue to draw interest even after a period in which many occupiers slowed decision-making amid broader economic uncertainty.
“Recent strengthening demand for prime units along this established Midlands corridor, coupled with constrained grade A-supply, has supported sustained rental growth.”
Andy Preston, senior development director at Panattoni, added: “Reaching full occupation at Panattoni Park J28 is a significant milestone, and is a reflection of what we are seeing across the rest of the Midlands and nationally, as occupiers are looking to secure grade-A, sustainable accommodation in strategically important locations.
“The M1 corridor continues to perform strongly, attracting a wide range of occupiers from ecommerce to pharmaceuticals. We remain actively focused on securing further prime opportunities along the corridor, where we can deliver grade-A buildings that meet occupier needs.”
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